John Marshall Bancorp Inc (JMSB) News & EventsJMSBJohn Marshall Bancorp Inc

Company Reports Q3 Revenue of $18.056M

Reports Q3 revenue $18.056M vs $16.253M last year. Chris Bergstrom, President and Chief Executive Officer, commented, "The Company continues to deliver strong, accelerating financial results quarter after quarter. This past quarter marked the ninth consecutive quarter of increased net income and earnings per diluted common share, including a 23% increase in both core net income and core earnings per diluted common share over the second quarter of 2026. Furthermore, we increased our core returns on assets and equity to their highest levels in nearly four years at 1.27% and 11.15%, respectively. As a continued expression of the soundness of our balance sheet and confidence in the outlook for our financial performance, the Board of Directors, once again, declared a quarterly cash dividend of $0.10 per common share. That marks a total of $0.38 per common share throughout 2026, a 27% increase over 2025. Asset quality remains exemplary and the Bank is very well-capitalized. As such, we believe that we are well-positioned to grow the balance sheet, profits and shareholder value."

John Marshall and Eagle Financial Merge in $253 Million Deal

John Marshall Bancorp (JMSB) and Eagle Financial Services (EFSI) announced the signing of a definitive merger agreement that will bring together two of Virginia's most respected community banking franchises. Under the terms of the agreement, at closing, EFSI will merge with and into John Marshall in an all-stock transaction valued at approximately $253M, or $46.72 per share of EFSI common stock, based on John Marshall's closing stock price of $23.36 as of September 4. Under the terms of the definitive merger agreement, which was unanimously approved by the board of directors of John Marshall and unanimously approved by all present directors of the board of directors of EFSI, each share of EFSI common stock will be converted into the right to receive 2.0 shares of John Marshall common stock. Based on John Marshall's closing stock price of $23.36 as of September 4, the implied per share consideration is $46.72, representing an aggregate transaction value of approximately $253M and a premium of approximately 11.5% to EFSI's closing stock price of $41.90 as of the same date. Following the closing of the transaction, John Marshall expects to increase its quarterly cash dividend to $0.155 per share, which would result in a quarterly dividend equal to $0.31 per share to EFSI shareholders, equivalent to EFSI's current quarterly dividend. The combined holding company will be John Marshall Bancorp, Inc. and will be headquartered in Reston, Virginia. The banking subsidiary will be headquartered in Berryville, Virginia. The company will continue to trade on the Nasdaq Stock Market under the ticker symbol "JMSB." Both banking companies will continue to operate under their current brands, with Bank of Clarke as the brand in its legacy Shenandoah Valley markets, preserving a name that has served the community since 1881. The combined company's board of directors will consist of 12 directors, 6 from John Marshall and 6 from EFSI. Christopher Bergstrom will serve as Executive Chairman of the combined company. Cary Nelson will serve as Lead Independent Director of the combined company. The combined company will be led by a seasoned management team drawing on the strengths of both organizations. Brandon Lorey, current President and CEO of EFSI, will serve as CEO and a director of both the combined company and the banking subsidiary Kent Carstater, current CFO of John Marshall, will serve as President of the combined company and COO of the banking subsidiary. Joseph Zmitrovich, current Chief Banking Officer of EFSI, will serve as Chief Revenue Officer of the combined company and President of the banking subsidiary The transaction is expected to close early in the first quarter of 2027, subject to satisfaction of customary closing conditions, including receipt of required regulatory approvals and approval by the shareholders of both John Marshall and EFSI.

John Marshall Bancorp Extends Stock Repurchase Program to 2027

John Marshall Bancorp announced that its Board of Directors authorized the extension of the stock repurchase program through August 31, 2027, pursuant to which the Company is authorized to purchase up to 700,000 shares of the Company's outstanding common stock. To date, the Company has repurchased 242,150 shares, or $4.5M under the Stock Repurchase Program. The Stock Repurchase Program may be suspended, terminated, amended or modified by the Board at any time without prior notice at the Board's discretion. The Stock Repurchase Program was originally approved by the Board in 2021 and was set to expire on August 31, 2026. Other than the extension of the Stock Repurchase Program for an additional year, no changes were made to the Stock Repurchase Program.